Abraxas seals deal for 100-MW Solar City renewable project in Maldives
Jul 11, 2025, 10:02:16 AMArticle by Martina Markosyan
Canadian energy transition developer Abraxas Power Corp has signed an investment agreement with the Government of the Maldives to develop its local flagship 100-MW renewable energy project, dubbed Solar City.
Solar City, also known as Luminosity, is described as a mixed-use renewable energy project and will be developed as a floating solar facility on newly reclaimed barrier islands. Touted as the largest energy project in the Maldives, it will be located about four kilometres (2.48 mi) from Male and Hulhumale.
Following the agreement, the president of the Maldives issued a decree designating the project site as a Special Economic Zone (SEZ) under the country’s SEZ Act. The order marks the first such decree ever issued under the framework.
The project alone has the potential to help the Maldives fulfil its COP28 commitment to source 33% of national energy needs from renewables by 2028.
“By leveraging sustainable innovation and strategic investment, we aim to cut emissions, lower energy costs, and meet up to 50% of Greater Male’s electricity demand with 100% clean power,” said Abraxas’ CEO J Colter Eadie.
Abraxas is executing the deal through its subsidiary APM SPV Pvt Ltd.